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Zai LabZLAB +0.38%68 Price-to-Tangible-Book is 3.48 as of Aug. 01, 2026, which is 13% above its 10-year median of 3.07. GuruFocus rates ZLAB with a GF Score™ of 68/100 and a GF Value™ of $30.10 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,149 Biotechnology companies, Zai Lab ranks worse than 55.7% on this metric.
As of today (2026-08-01), Zai Lab's share price is $18.28. Zai Lab's Tangible Book per Share of Mar. 2026 for the quarter that ended in Mar. 2026 was $5.25. Hence, Zai Lab's Price to Tangible Book Ratio of today is 3.48.
The historical rank and industry rank for Zai Lab's Price-to-Tangible-Book or its related term are showing as below:
ZLAB'
s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.45 Med: 3.07 Max: 11.81
Current: 3.48
During the past 11 years, Zai Lab's highest Price to Tangible Book Ratio was 11.81. The lowest was 0.45. And the median was 3.07.
ZLAB's Price-to-Tangible-Book is ranked worse than 55.7% of 1149
companies
in the Biotechnology industry
Industry Median: 3.04
vs ZLAB: 3.48
A closely related ratio is called PB Ratio. As of today, Zai Lab's share price is $18.28. Zai Lab's Book Value per Sharefor the quarter that ended in Mar. 2026 was $5.96. Hence, Zai Lab's P/B Ratio of today is 3.07.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Zai Lab Price-to-Tangible-Book Related Terms
Zai Lab Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for Zai Lab's Price-to-Tangible-Book can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ZLAB vs COAG, SLS, IOVA: Price-to-Tangible-Book Comparison
For the Biotechnology subindustry, Zai Lab's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Zai Lab Price-to-Tangible-Book vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Zai Lab's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Zai Lab's Price-to-Tangible-Book falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Zai Lab (ZLAB) has a Price-to-Tangible-Book of 3.48 as of Aug. 01, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Zai Lab and its competitors. This is 13% above median its historical median of 3.07. Over the past decade, Zai Lab's Price-to-Tangible-Book has ranged from 0.45 to 11.81. According to the industry distribution chart, Zai Lab ranks #640 out of 1149 companies in the Biotechnology industry, placing it in the top 55.7%.
Is Zai Lab's Price-to-Tangible-Book too high?
Zai Lab's current Price-to-Tangible-Book of 3.48 is 13% above median its 10-year median of 3.07. Over the past 10 years, this metric has ranged from a low of 0.45 to a high of 11.81. The Biotechnology industry median Price-to-Tangible-Book is 3.04. Zai Lab's value of 3.48 is 14.5% above this industry median. Based on the distribution chart, Zai Lab ranks #640 out of 1149 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Zai Lab has a GF Score™ of 68/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Zai Lab's Price-to-Tangible-Book compare to COAG and SLS?
According to the Biotechnology industry distribution chart, Zai Lab ranks #640 out of 1149 companies for Price-to-Tangible-Book. This places Zai Lab in the lower half of its industry. The industry median Price-to-Tangible-Book is 3.04. Zai Lab's value of 3.48 is 14.5% above this benchmark. Historically, Zai Lab's own Price-to-Tangible-Book has ranged from 0.45 to 11.81 over the past decade. While the company's 10-year median is 3.07 vs. the industry median of 3.04, Zai Lab has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Biotechnology company?
The median Price-to-Tangible-Book among Biotechnology companies is 3.04, based on 1,149 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zai Lab's current Price-to-Tangible-Book of 3.48 is 14.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Zai Lab and its competitors. For the Biotechnology industry, the median Price-to-Tangible-Book is 3.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zai Lab's current Price-to-Tangible-Book is 3.48, which is 13% above median its own 10-year median of 3.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zai Lab stock overvalued right now?
Based on GuruFocus' analysis, Zai Lab (ZLAB) is currently considered Possible Value Trap. The stock's GF Value™ is $30.10, compared to a current price of $18.28 — trading 39.3% below its estimated fair value. The current Price-to-Tangible-Book is 3.48, which is 13% above median its 10-year median of 3.07 and 14.5% above the Biotechnology industry median of 3.04. Zai Lab's overall GF Score™ is 68/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Zai Lab (ZLAB), the current Price-to-Tangible-Book is 3.48 as of Aug. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Zai Lab (ZLAB) Overvalued in 2026?
Based on GuruFocus' analysis, Zai Lab stock appears to be undervalued.
The current stock price of $18.28 is trading 39.3% below its estimated GF Value™ of $30.10.
GuruFocus considers Zai Lab to be Possible Value Trap.
Key valuation signals for ZLAB:
Price-to-Tangible-Book: 3.48 (13% above median its 10-year median of 3.07)
GF Value™: $30.10 vs. price of $18.28 (39.3% below fair value)
Industry Position: 14.5% above the Biotechnology median (#640 of 1149)
No single metric tells the full story. See the ZLAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zai Lab Ltd is a biopharmaceutical company focusing on discovering or licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need including in the fields of oncology, autoimmune and infectious diseases. Zai Lab has a diverse pipeline of potentially first-in-class product candidates developed through in-house R&D and global partnerships. The company has successfully commercialized several products in China, including Zejula, Optune, Qinlock, and Nuzyra, with plans for further expansion The pipeline of proprietary drug candidates of the company includes ZL-1222, ZL-1311, ZL-6201 and many others.
68GF Score
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Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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